Blog

Fix refineries to work optimally to address forex challenges, Association urges government
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Refinery
Lagos, Oct. 20, 2016 (NAN) Mr Olufemi Adewole, Executive Secretary, Depot and Petroleum Products Marketers Association (DAPPMA), says fixing the nation’s refineries will help address the challenges of accessing foreign exchange by marketers.
In an interview with the News Agency of Nigeria (NAN) in Lagos, Adewole urged the Federal Government to ensure that the country’s local refineries worked at optimal capacity.
“Making our four refineries work at full capacity remains the only way to address the ongoing foreign exchange challenges in Nigeria.
“When the refineries are working optimally and products refined are sold to marketers locally, it will stimulate the economy.
“ This will reduce the high rate of sourcing for foreign exchange by marketers to import petroleum products.
“Government will make more money through crude oil export to bring in dollars into the country,’’ he said.
Adewole said that for a long time now, marketers had been depending on foreign currency to import petroleum products to meet up with the demand of local fuel consumption.
“As long as we neglected our refineries to refine product overseas, there will be pressure on the need for dollars,’’ he said.
“Foreign exchange is the major challenges affecting importation of kerosene because right now banks are not financing any marketers even to import petrol.
“If marketers have foreign exchange they will import the products but lack of foreign currency hampered the importation of kerosene into the country,’’ the DAPPMA’s scribe.
He urged government to refine more crude oil into petroleum products domestically for local consumption. (NAN)
YO//AOM/WOJ
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(Edited by Abdullahi Mohammed / Wale Ojetimi)

Anti-government extremist on trial for embezzling his followers’ money
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Trial
Berlin, Oct. 20, 2016 (dpa/NAN) An anti-government extremist who calls himself the “King of Germany” will appear before a German court on Thursday on charges bordering on embezzlement for extorting 1.4 million dollars from followers of his movement.

Peter Fitzek is a member of the so-called Reich Citizens’ Movement, whose followers do not recognise the German State nor adhere to its laws, statutes or proceedings.

In 2009, Fitzek declared himself “king” of a “monarchy” that encompassed an abandoned hospital in the eastern German city of Wittenberg.

Prosecutors said Fitzek administered the savings of 574 of his followers without a licence and embezzled funds of the said amount in 27 separate cases.

The Reich Citizens’ Movement, which is under surveillance by Germany’s domestic intelligence agency, has been compared to the sovereign citizen movement in the United States.
(dpa/NAN)
OYE/AMY
Edited by Damilola Oyewole and Abdullahi Yusuf

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Economy

By Lucy Nwachukwu

Abuja, Oct. 20, 2016 (NAN) A financial expert, Prof. Uche Uwaleke, has urged the Federal Government to focus on efforts to get the economy out of recession and provide conducive environment for job creation.
Uwaleke made the call in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja at the backdrop of International Monetary Fund (IMF) latest rating of Nigeria as largest economy in Africa.
The new rating, which restored Nigeria’s prime position, lost to South Africa in August, placed the country ahead of South Africa and Egypt as Africa’s second and third big economies, respectively.

But the IMF’s World Economic Outlook for October puts Nigeria’s GDP at 415.08 billion dollars, from 493.83 billion dollars in 2015, while South Africa’s GDP was put at 280.36 billion dollars, from 314.73 billion dollars in 2015.

Uwaleke advised that the government should not fantasise on the IMF rating and lose focus of its duty to the nation’s economy.
He said, “the government is advised not to make a big issue out of the IMF’s rating of the economy.
“It must rather remain focused in its efforts geared towards getting the economy out of the present recession and engendering environment conducive for job creation.
“Nigeria has once again assumed the status of the biggest economy in Africa and this should ordinarily be something to cheer about.
“However, in view of the plummeting value of the naira and the contraction in national output, especially for the first two quarters, one is left to wonder whether the IMF estimate is realistic.’’
Uwaleke recalled that the removal of the currency peg in June, 2016 and adoption of a new foreign exchange policy by the Central Bank of Nigeria (CBN), caused a resultant depreciation of the naira.
He said that the depreciation of the naira significantly reduced the country’s GDP size in dollar terms such that Nigeria’s economy dropped to second place behind South Africa.
He added that not long after, the National Bureau of Statistics reported a negative growth in GDP of 2.06 per cent for the second quarter of 2016.

Uwaleke said the reality in the country had not changed since then as the naira had continued to depreciate in the foreign exchange market.
“The same IMF projects a negative year-end GDP growth rate for Nigeria. Therefore, it is not yet time to roll out the drums.
“The about 415 billion dollars GDP estimate by the IMF is difficult to reconcile with the country’s poor macro economic performance in the last few months occasioned by the drastic fall in oil revenue.
“So the government should ensure to play its role to the nation. (NAN)
LCN/OPI/OPI

Edited by Olisa Ifeajika

Diplomats grace Coronation of Crown Prince Erediauwa in Benin

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Diplomats
By Kevin Okunzuwa
Benin, Oct. 20, 2016 (NAN) Members of the Diplomatic Corps are among dignitaries already seated at Urhopkpota venue for the coronation of the Crown Prince Eheneden Erediauwa as the 39th Oba of Benin Kingdom.

A correspondent of the News Agency of Nigeria (NAN) reports that some of countries whose diplomats are present include Great Britain, Namibia, Senegal, Italy, Burkinafaso, Senegal, Mauritania, Mali and Spain.

Others are Denmark, Sweden, Tanzania, Soa Tomi, South Sudan, Argentina, Botswana, Angola and Albania, respectively.

NAN reports that the Crown Prince is expected to walk from the Usama Palace few kilometres to Urhokpota, where he will be crowned by the Ezama Chiefs led by Oliha.

Gov. Adams Oshiomhole is expected to present him with staff of office after which the Oba will unveil the new crest before the public. (NAN)
KOO/MST/MST

Edited by Muhammad Suleiman Tola

Coronation: Security personnel take strategic positions in Benin

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Coronation

Benin, Oct. 20, 2016 (NAN) Security personnel have on Thursday taken strategic positions in Benin city as Prince Eheneden Erediauwa, receives his crown as the 39th Oba of Benin.

The News Agency of Nigeria (NAN) reports that personnel of the Nigeria Police Force, the Nigeria Security and Civil Defense Corps (NSCDC) and the Army, have been deployed to maintain security.

The officers were positioned at the Airport Road, Sapele Road, Oba Market Road, streets within the palace, King’s Square and Akpakpava Road.

NAN also reports that hotels within the city, especially those in the Government Reserved Area (GRA), also witnessed the security presence because of influx of visitors to the city for the coronation ceremony.

Also, vehicular movement has been restricted out of the busy King’s square area.

And to avoid a lock down of the city as it happened on Wednesday, personnel of the Federal Road Safety Corps (FRSC) and traffic officers of the Nigeria police have been drafted to control traffic in the city.

The Police and the NSCDC are jointly providing 5,300 personnel to provide security during the ceremony.

The personnel include; the Arm Squad, Anti-bomb Unit as well as the Special Weapons and Tactics (SWAT) unit.

The coronation of Prince Eheneden Erediauwa as the 39th Oba of Benin is expected to attract large crowd including diplomats, governors and other dignitaries from within and outside the country. (NAN)
ESI/TO/AMY
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Edited by Tola Okinbaloye and Abdullahi Yusuf

Accident: Ajimobi’s wife condoles with families of accident victims

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Condolence
By Modupe Seriboh
Ibadan, Oct. 20, 2016 (NAN) The wife of Oyo State governor, Mrs Florence Ajimobi, has condoled with the families of the victims who lost their lives in a crash that occurred at Oja-Oba, Ibadan, on Tuesday.

A trailer load of cement was alleged to have lost control in the early hours of Oct. 18, killing four persons and left several others wounded.

In a statement signed by Gov. Ajimobi’s Special Assistant on Media, Yemisi Owonikok, and made available to newsmen in Ibadan on Thursday, she expressed grief and commiserated with the relatives of the deceased.

She prayed that God should comfort affected the families and give them the fortitude to bear the irreparable loss.

According to her, occurrence like this which could be averted by paying attention to details and routine checks on vehicles are very painful, as they throw the families of the deceased into anguish and excruciating distress.

She urged health organisations to rally round and make sure those that were injured are duly catered for and given adequate care to make them recover soon.

Ajimobi also appealed to traders to abide by the state government’s law prohibiting street trading.

She noted that the impact of the incident would have been more if traders had their wares on the road as at the time of the accident.
However, she appealed to traders across the state to support the government and obey traffic rules by keeping-off the road for their own safety, as the government is striving to give its citizenry a better life. (NAN)
MAM/AAB/MST
Edited By Adeboye Ajayi/Muhammad Suleiman Tola

Community urge Nasarawa Govt to construct Bakyuno/Nassarawa Eggon road

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Road

Nasarawa Eggon (Nasarawa State), Oct. 20, 2016 (NAN) The Bakyuno community in Nasarawa Eggon Local Government Area of Nasarawa State on Thursday appealed to the State Government to construct their 15km road in order to boost food production and socio-economic activities in the area.

Some residents of the community made the call in an interview with the News Agency of Nigeria (NAN) during a community self help efforts to rehabilitate the road.

They said that the deplorable nature of the road had not only hindered their economic and social activities but had also affected the lives of the people of their communities negatively.

They also decried the deplorable state of infrastructural facilities in the area and called on the government to give attention to rural development in order to boost food production and to improve on the standard of living of the rural dwellers.

Mr Abubakar Suleiman, a farmer said that the bad condition of the road had affected their agricultural activities and the socio-economic activities of the people of the area negatively, hence the need for the government to alleviate their suffering.

“People that are in this community are predominantly farmers who cultivate crops such as yam, cassava, rice and millet, among others, and the absence of good road have not only affected our agricultural activities but have also affected our health negatively.

“We (the community), both elders and youths, sat down and have taken a decision that due to the bad nature of the road, we need to use our local tools to rehabilitate the road so as to enable us pass and transport our agricultural produce without hitches especially during the rainy season.

“It is in view of this, I want to appeal to the state government to come to the aid of the community through constructing the 15km road to Nasarawa Eggon local government headquarter so as to reduce our hardship and boost our standard of living,

“The construction of the 15km road will not only boost the agricultural production in the area but will also boost the revenue base of the area, fight poverty and improve on the socio-economic activities of the area and the state at large for the overall development of the country,’’ Suleiman said.

He, however, commended Gov.Tanko Al-Makura’s developmental strides and called for its sustenance.

Another resident, Mr Zakari Usman, said that the deplorable state of the road had resulted in forcing farmers in the area to sell their agricultural products at a loss, adding that the presence of infrastructural facilities in a community will bring speedy development.

“Because of the poor road, we usually give our agricultural product in a cheaper price to marketers this is because they also complain of high cost of transportation due to poor roads, as you can see, almost everybody in this community were farmers.’’

On his part, Alhaji Umar Marafa, said that the construction of the road would not only boost agricultural production but would also improve on the health of the people of the area.

“If the road has been well constructed by the government, it will not only boost agricultural production but will also boost our health status as well as fast track development to the area and the local government in general,’’ he said.

NAN also reports that some members of the community who spoke during the self help programme lamented over the dilapidated nature of their primary school and absence of infrastructural facilities such as portable water and electricity, among others. (NAN)

AKW/MST/MST

Edited by Muhammad Suleiman Tola

1. Plateau Poultry farmers meet in Jos on compensation issues.
2. Chairman, Wood Loggers Association, Kogi branch, speaks with journalists on the ban on tree felling by the state government.
3. Education commissioner meets with secondary school principals in Lafia.
4. The ‘New Yam’ festival, organised by National Museum of Unity holds in Enugu.
5. Anambra State House of Assembly deliberates on suggestion to outlaw illegal sand excavation.
6. Health Reform Foundation of Nigeria holds advocacy meeting in Ibadan.
7. Ondo State House of Assembly deliberates on Amendment bill of the 2016 Appropriation Act.
8. Valedictory session for Justice Sotoye Denton West holds at the Court of Appeal, Abuja.
9. FCT High Court continues hearing of defence of former Plateau governor, Joshua Dariye’s alleged N1.16 billion diversion of state ecological fund.
10. The National Industrial Court hears a case of alleged dismissal filed by an aggrieved member of staff against the Bureau of Public Enterprise.
11. Crown Prince Eheneden to be crowned as Oba of Benin.

Swedish PM to visit Saudi Arabia to repair ties
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Visit
Stockholm, Oct. 20, 2016 (dpa/NAN) Swedish Prime Minister Stefan Lofven is to visit Saudi Arabia this weekend, the premier’s office said on Thursday, marking a further improvement in ties that hit a low in 2015.

“Saudi Arabia is an important political and economic player and has a key role in the region’s development and security,” Lofven said in a statement.

The conflict in Syria was one of the top issues he planned to raise during talks with Saudi officials, he said, noting that Sweden in January will become a member of the UN Security Council.

Lofven was also to meet with the Saudi human rights commission.

Ties between the Gulf monarchy and Sweden were sorely strained in early 2015 when the Gulf monarchy reacted angrily to Foreign Minister Margot Wallstrom’s criticism of its human rights record.

The Saudi ambassador to Sweden was briefly recalled in March 2015 and Riyadh said it would not issue visas for Swedish nationals planning business trips.

During the row, the Swedish government said it would not renew a military cooperation agreement with Saudi Arabia.

Lofven was to be accompanied by business leader Marcus Wallenberg and Maria Rankka, Chief Executive of the Stockholm Chamber of Commerce who are members of the Saudi-Swedish Business Council.

The council was set up in October 2015 to enhance trade.

In 2015, Saudi Arabia was one of Sweden’s top 20 trading partners.
(dpa/NAN)

(Edited by Danilola Oyewole/ Julius Enehikhuere)

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Arrivals
By Kevin Okunzuwa
Benin, Oct.20, 2016 (NAN) Royal fathers, religious leaders, retired army generals and members of the Edo State Executive Council are among the early arrivals at Urhopkota, venue of the coronation of Crown Prince Eheneden Erediauwa as 39th Oba of Benin Kingdom.
A correspondent of the News Agency of Nigeria (NAN) reports that the dignitaries started arriving Urhokpota as early as 8.00 a.m. amidst tight security within the Oba Ovoramwan Square.
NAN reports that the sitting positions have been made by the coronation planning committee with names of expected guests pinned to the specially designed chairs.
At the time of filling this report, President Muhammadu Buhari and members of the diplomatic corps, among other respected personalities, are still being expected.
Some of the early arrivals are HRH Eze Ogbunechende of Ezema Olo, Chairman of Enugu Council, Retired Gen. Charles Airhvbere, Retired DIG Parry Osayande, Archbishop Augustine Obiora Akubese, the Catholic Archbishop of Benin City, among others. (NAN)
KOO/TA
Edited by Tajudeen Atitebi